Privately held U.K. biotech OMass Therapeutics raised $310 million to support the clinical development of a drug for congenital adrenal hyperplasia, an inherited endocrine disorder. The funding will help advance the treatment through its testing phases. In related industry news, investment firm Orbimed raised nearly $3 billion for two new private equity funds. These funds will invest in health care companies across the United States, Europe, and Asia. Meanwhile, STAT reporter Allison DeAngelis noted that the rise of Chinese biotech is threatening U.S. venture capital firms, according to one investor warning. The firm also shared a personal tribute to late colleague Helen Branswell, describing her as kind, scrupulous, brilliant, and inspiring in action.